NCUA’s Harper discusses climate financial risk RFI, State of Credit Unions at MD & DC Credit Union League
ALEXANDRIA, VA (June 13, 2023) — National Credit Union Administration Chairman Todd M. Harper spoke at Connect 2023, the MD & DC Credit Union Association’s annual meeting and convention today. During his remarks, Chairman Harper discussed the safety and soundness of the credit union system, interest rate and liquidity risk, the NCUA’s recent Request for Information on climate-related financial risk, the NCUA’s recently proposed rule on charitable donations accounts, and cybersecurity risks facing the financial services sector.
“The good news is that the credit union system overall remains well positioned at this time to handle any economic disruptions and market uncertainty,” Harper said. “What’s more, the NCUA is well positioned through the supervisory process to address any issues that may arise from broader market concerns about liquidity in the financial services sector. We will continue to monitor credit union performance through the examination process, offsite monitoring, and tailored supervision. In addition, the agency is coordinating with other federal financial institution regulators to ensure the overall resiliency and stability of our nation’s financial services system.”
Chairman Harper’s full remarks are available on NCUA.gov.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 135 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.